Mel.

🇬🇧🏠 We purchased a modest little townhouse in Fulham many moons ago, back when you could still get change from a half a million quid in SW6. Fast forward to 2025 and it now scrapes the £2m mark, literally the borderline where Labour’s threatened “mansion tax” starts to bite. Our long-term tenant has always flirted with the idea of buying it ... Last week I finally asked if they were serious. Reply came back: “Thanks, but no thanks, don’t fancy being anchored to a £2m+ London property with all the extra taxes looming.” ☹️ So here I am: Can’t raise the rent (Section 21 gone, rent caps maybe on the horizon too - don't rule it out!!) Can’t sell it for what it’s actually worth (buyer pool shrinks the moment you get close to that dreaded £2m threshold). Next year the bank revalues it for the remortgage… fingers crossed they don’t suddenly decide it’s only worth £1.5m (it would not surprise if they do!) and wipe out all of our equity in one stroke! 💡 Lesson of the day: stay well away from buy-to-let, especially single family houses. The golden decade is firmly behind us, the goalposts have been moved, and the taxman is warming up in the tunnel. Anyone want a very expensive, very illiquid brick box in Fulham? No? Thought as much! Here is hoping to better times!